Troon Ventures Ltd. Announces Special Meeting Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Feb. 14, 2014) - Troon Ventures Ltd. (NEX:TVN.H) ("Troon" or the "Company") is pleased to announce results of the voting at its special meeting of shareholders held on February 13, 2014, in Vancouver, British Columbia (the "Meeting") at which the Company received overwhelming shareholder approval of its proposed business combination with Grenville Strategic Royalty Corp. and its related plan of arrangement (the "Transaction") with over 99% of tendered shares voted in favor.
At the Meeting, shareholders of the Company also approved a continuance of the Company from British Columbia into Ontario and adopted a new stock option plan pursuant to which the Company will issue options to acquire up to an aggregate of 1,267,289 common shares in connection with the Transaction.
The closing of the Transaction is scheduled to occur on February 19, 2014. The Transaction is subject to the Company obtaining final approval of the TSX Venture Exchange and a final order from the Supreme Court of British Columbia approving the Company's proposed plan of arrangement. A news release will be issued once the Transaction has closed.
A summary of the Transaction is provided in the Company's news releases dated November 26, 2013, December 18, 2013 and January 16, 2014.
ON BEHALF OF THE BOARD, TROON VENTURES LTD.
President, CEO and Director
Completion of the Transaction is subject to a number of conditions, including Exchange acceptance and shareholder approval. The Transaction cannot close until all required approvals have been obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Troon should be considered highly speculative.
Raymond James Ltd., subject to completion of satisfactory due diligence, has agreed to act as sponsor to Troon in connection with the Transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Transaction or the likelihood of completion of the Transaction.
TSX Venture Exchange has in no way passed upon the merits of the Transaction. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Troon and Grenville caution the reader that there is no guarantee that any of the potential outcomes from the Agreement will actually occur or be finalized. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to statements with respect to: issuing options; the closing of the Transaction; the closing date of the Transaction; obtaining final approval from the TSX Venture Exchange; obtaining a final order from the British Columbia Supreme Court; and issuing a news release on closing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Troon or Grenville to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, the ability to conclude the Transaction, capital expenditures and other costs, and financing and additional capital requirements. Although management of Troon and Grenville have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. Neither Troon nor Grenville undertakes to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Troon Ventures Ltd.
Andrea Zaradic, President, CEO and Director
Troon Ventures Ltd.